Yes, I call this the US's Haitian Road to Development in The Pathology of the US Economy, but I am not sure that the wages will equalize soon, even in a temporary equilibrium.
On Sat, Oct 29, 2005 at 03:30:29PM -0700, Jim Devine wrote: > > it's mostly the US wages that are converging toward Haiti's (when > corrected for productivity differentials). But no equilibrium is ever > attained under capitalism, except temporarily. > > -- > Jim Devine > "Segui il tuo corso, e lascia dir le genti." (Go your own way and let > people talk.) -- Karl, paraphrasing Dante. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
